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June 2015 » The DATA Act
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Rebecca Bloch, PhD, CPA, and Hussein Issa, PhD, and Amanda Peterson, PhD, CPA
In BriefThe Digital Accountability and Transparency (DATA) Act of 2014 requires the federal government to publish financial information online in a standardized reporting format. State and local governments may soon follow suit, due to the requirements of the Single Audit Act and other factors. Critics have also stressed the importance of state governments disclosing financial reports in a timely and clear manner and using technology to improve reporting. This article explores the impact of the DATA Act on government entities, and looks specifically at the current practices of cities and towns in New York State.
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